Business News, Finance News, World, Political & Sports News from The Wall Street Journal

Michael Steele Wins RNC Chairman Vote
Former Maryland Lt. Gov. Michael Steele was elected the first African-American chairman of the Republican National Committee.

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Exxon Hit
By Oil Slide
Exxon Mobil's quarterly net fell 33% to $7.82 billion as oil prices sank, but full-year profit set a record. A one-time gain and wider refining margins boosted Chevron's results.
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Ex-Merrill Executives
Got Burned by Madoff
Some ex-Merrill executives invested money with Madoff, making them the highest-level victims known of his alleged scheme.
- Graphic: A Look Inside Madoff's Offices
- Complete Coverage: News, victims list, more
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Roche's Genentech Bid Turns Hostile
In a surprise move, Roche made a new, lower offer for Genentech, going directly to shareholders after failing to reach an agreement with Genentech directors on price.
- Health Blog: Will Genentech Scientists Stay Put?
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Dell Readies Smartphone Offering
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As Red Ink Spills, Ford Drains Credit Lines
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Amazon's Sales Surge

Car-Industry Slump
Imperils Innovation
Auto makers provide a little-recognized side benefit to industrial America: spurring suppliers to innovate. But that role may not continue.
U.S. Probes Plot to Destroy Fannie Data
Senate Debates Stimulus Bill Details

Zimbabwe Leaders End Power Deadlock
Zimbabwe's opposition party agreed to form a unity government with President Mugabe, breaking the monthslong deadlock over how to share power.
North Korea Ramps Up Rhetoric
U.K. Contract Energy Workers Strike

U.S. Eyes Two-Part Bank Bailout
Top economic officials are discussing new efforts to help banks while trying to mitigate the cost to taxpayers. Obama stepped up his rhetorical attacks on the same banks his officials are planning to aid.
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Utah Regulators Shut MagnetBank
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Intel Spars Over AMD Costs

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Hitachi, NEC Slash Jobs
Hitachi and NEC announced sweeping job cuts after the Japanese electronics giants forecast steep losses for the year.
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ITC Plans to Review Tessera Ruling
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AT&T CEO to Forgo Bonus

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OTS Review Finds Lax Regulation
Office of Thrift Supervision officials allowed five banks to improperly report capital infusions in a way that can make banks appear healthier.
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Gold Surges on Safe-Haven Buying
'Naked' Swaps Targeted

Big Screen TV 'Deals' Can Cost You Big
Considering a new big-screen TV ahead of Super Bowl Sunday? Retailers' attractive interest-free deals could cost you double, writes Brett Arends.
Seven New Tax Perks
With Stocks Unsure, Bonds In GRATs

Introducing Lily Allen -- Again
After visa problems tripped up her first attempt, British singer Lily Allen tries to conquer America.
'Class' Highlights Wider Truth
Compelling Staging Serves Play Well

Creating New Roots
Architect Kyu Sung Woo's Vermont retreat blends architectural traditions of New England and Korea.
How To Downsize Your House
Builders Offer Rock-Bottom Rates

Busboys Are Cut as Restaurants Suffer
More restaurants are eliminating busboys to cut costs and shifting those responsibilities to the servers, but it isn't always going smoothly.
Germany's Venture Law Draws Heat
Auto Dealerships Prepare for Shakeout

Declarations: Look at the Time
In Congress and the boardroom, there's a failure to recognize a new era, writes Peggy Noonan.
Using Math to Decode the Beatles
A mathematician tries to solve such mysteries as the authorship of "In My Life," sparking controversy among fans.
- Graphic: All You Need is Math | Video
'Class' Highlights Wider Truth
Laurent Cantet's documentary-style drama "The Class" ignores familiar formulations in favor of a heightened reality.